Signs of rising consumer stress are prompting some fund managers to grow more conservative in their outlooks, even as the broad stock market continues to rally.
Payments on approximately $1.1 trillion of federal student loans will resume in October, potentially setting consumers up for a “payment shock” of $500 or more each month, according to a study by TransUnion. Overall consumer spending rose slightly more than expected in August, while the savings rate fell to its lowest since November 2022, the Commerce Department said on Thursday.
Investors will receive an updated view of consumer credit usage and a reading of the ISM services sector, which accounts for two-thirds of the economy, next week.
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